zygiman

No limits on Cyprus domestic Credit & Debit card transactions

ChristineBiz

Any idea about the abroad limits? I can't seem to find any new info if those had been relaxed at all.

zygiman

No, not yet. Will keep you updated as things unfold. The restrictions are being loked at on a daily basis.

zygiman

The COOP banks in Cyprus are open on Saturday's till midday. Check your local branch for opening times. Remember it is a Bank Holiday on Monday in Cyprus.

zygiman

Cyprus Capital Controls extended by a further 5 days.

ChristineBiz

Thanks, read that too. Are you able to clarify something...they've lifted debit and credit card controls within Cyprus. Does that mean you can go to ATM, and withdraw any amount of cash?

Or does that mean that you can just go anywhere and *purchase* anything at any amount?

zygiman

There are no restrictions on purchases in Cyprus. The only limits are between the bank/credit card company and the client's agreed limit.

zygiman

Cyprus president proposes to allow casinos in Cyprus.

zygiman

Russian government will not compensate Russian savers in Cyprus.

ChristineBiz

Anyone know what these new 12 initiatives the President of Cyprus is proposing? Links to anything official?

zygiman

The sum of up €25,000 may now be transferred abroad for genuine business transactions without permission form committee.

zygiman

The new Fifth Decree issued by the Minister of Finance includes the following amendments:
(a) Payments, other than cheques, or transfers of deposits/funds to accounts held in other credit institutions up to €2.000 per month per natural person in each credit institution are allowed.
(b) Payments or transfers of deposits/funds to accounts held in other credit institutions up to €10.000 per month per legal person in each credit institution without presentation of justifying documents.

Steps74

Dear all
I am currently living in the UK and a British citizen.
I currently have savings in Cyprus in laiki bank. As these are British savings will I also be heavily taxed or as I am a British citizen Do I have legal rights that the government can't touch my money.

Any advice would be helpful.

Thanks.

zygiman

Looks like residency does not play a part in this. You will probably have to lose money in the haircut if you have funds over €100,000 in Laiki Bank.

zygiman

Cyprus sells €400 Million in gold reserves.